Can I affort to purchase a Home ?

This is the first question that comes to each person's mind when he wishes to own a home or appartment.
Here is an online calculator which is very easy to use and too quick to give support to your first thoughts.
You just need to anonymously enter is this...

• your income
• approx. non-mortgage debt
• money available for down payment
• mortgage term that you want to apply for
• mortgage interest rate(the page also displays current national average :) )

Once you input this and submit the calculate button, the page will show you the maximum affordable cost of the house, what should be total montly house payment and the mortgage amount.
It also displays one very important information. Like this...

Your down payment is less than 20%. This could require you to pay mortgage
insurance. You can avoid mortgage insurance by obtaining a piggyback
mortgage
(80% 1st mortgage + small 2nd mortgage)

Click on the "show detailed results" at the bottom of that page to see other helpful information like this.
So, give this simple calculator a try to find out if you could afford your dream home here.